This magnificent 82 storey building located in NYC (New York City) is owned by the Kwee family who happen to be the fifth wealthiest in Singapore.
The architectural masterpiece was designed by Pritzker Prize Laureate, Jean Nouvel. According to Michelle Yuan a Forbes.com contributor who covers luxury and lifestyle in Asia,a few sales have already been confirmed in Singapore where Pontiac Land is based. She also reports that the building is one of the tallest in NYC.
Designed by Pritzker Prize Laureate, Jean Nouvel with tailored interiors by Thierry Despont, 53W53 will be one of the tallest buildings in NYC, at 1,050 feet high. The 750,000 square foot apartment building will house 145 condominium residences in addition to a 36,000 squarefoot expansion of MOMA’s galleries on the museum’s second, fourth, and fifth floors.
For those who purchase a unit at 53W53, they will receive title to a Benefactor W53 MOMA membership, along with museum benefits and privileges. They’ll can also host private events in the museum’s iconic sculpture garden.
With a few sales already confirmed in Singapore, where Pontiac Land is based, the firm is now targeting buyers in Hong Kong. “Buyers could be anyone from investors, those looking for a new home, or those looking for a trophy home,” said Lynn Toh, Vice President of Marketing at Pontiac Land.
A Tastefully Furnished Apartment In The Building
Michelle also reports that the smallest room in the building starts from $3million and that the building is a home to the world's greatest billionaires.
According to Savills Market in Minutes, New York Prime Residential market is 61% lower than that of Hong Kong. Still, the city is home to the world’s greatest concentration of billionaires, according to the report. At 74 billionaires, it’s ahead of Hong Kong’s 53 and London’s 19.
The smallest rooms start from $3 million, which includes 1,500 square feet with 1 bedroom and 1.5 bath. “Every apartment has been designed to enhance and respect the architecture of Jean Nouvel,” said New York-based architect, Thierry Despont, who created the building’s lobby using oak, marble, alabaster, bronze, and gold leaf as an interpretation of Nouvel’s bold architecture. “I approached the design of 53W53 as if each residence was a private home commission,” he said.
Each of the building’s 145 residential units, ranging from one bedroom to full-floor residences to duplex penthouses, has a different layout than the other units. This was a result of the building’s sculptural, exposed structural system, known as ‘diagrid.’
Since the first quarter of 2015, there has been an 11% price appreciation in Manhattan, according to the Corcoran Report Q1, 2016. Overall, pricing has been on an upward trend over the last few years with many metrics hitting record highs. This is mainly due to low inventory levels and increasing new development market share, according to the report.
In addition to Pontiac Land Group, 53W53 is also developed by international real estate firm, Hines, and the Goldman Sachs Real Estate Principal Investment Area.
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